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Content services platforms were developed to fulfil the growing need for content by huge corporations, as they are designed to enable individuals, teams, and workgroups across the enterprise to effectively access content data. Content services platforms (CSPs) are integrated platforms that support digital business and transformation by providing content-focused services, repositories, APIs, solutions, and business processing tools. Sometimes this platform also offers prebuilt solutions for vertical and horizontal content processes including case management, legal issue management, and contract administration.
The content service platform includes features such as data capture, document and record management, workflow management, and indexing. Due to various features such as vendor invoice management, contact management, and information management, content service platforms are frequently utilized in end-use organizations.
Growing adoption of Smac (Social, mobile, analytics and cloud) technology and the proliferation of digital content across enterprises will help to drive the market growth. Enterprise Content Management has always had the objective of using a centralized platform to accomplish a wide range of content-related operational tasks.
The escalating spread of pandemic COVID-19 has positively impacted on the content service platform industry. Businesses and institutions all over the world have shifted to Content Services Platforms in an attempt to maintain productivity. Many developed countries including Europe and the United States, are now allowing non-essential employees to work remotely for an indefinite period of time.
Key Market Driver -
Rising Usage of Smac technologies in end-use industry is expected to drive the growth of the market in coming years.
Key Market Restraint -
Increased data privacy and security concerns is expected to retard the market growth
The major companies in the global content service platform market report include IBM corporation, Microsoft Corporation, Oracle Corporation, Hewlett-Packard Enterprise Development LP, Opentext Corporation, DocuWare Corporation, Adobe Inc., Hyland Software Inc., Newgen Software Technologies Ltd., M-files, GRM Information Management, SERgroup Holding International GmbH, Nuxeo Corporation, Laserfiche, Alfresco Software, Inc., and others.
North America is expected to hold a major market share in the global content service platform market due to rising usage of Smac technologies among population and growing demand for contextualized user experiences. The United States and Canada relatively boast good economic performance. Their financial situation enables them to make significant investments in cutting-edge tools and technologies for more efficient corporate operations.
Asia Pacific is likely to exhibit a remarkable market growth during the forecast period. Increased availability of trained professionals and the intense focus offered by SMEs and large enterprises are few elements for driving the adoption of content service platform in APAC region.
The market in Europe is in the developing phase, owing to an increasing number of start-ups and domestic players in developing countries such as U.K., Germany, France, Russia and others which is expected to lead to a moderate adoption of content service platform in coming years.
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